East Capital Explorer AB - Interim Report 1 January - 31 March 2013
(Thomson Reuters ONE) -
Events during the first quarter
* Net asset value (NAV) per share on 31 March 2013 amounted to EUR 9.30 (EUR
9.52)[1], corresponding to an increase of 2.2% (9.6%) during the first
quarter. Since 31 March 2012, the NAV per share decreased by 2.3% (-23.8%)
* During the first quarter, the net result for the Group was EUR 6m (EUR
28m), including EUR 7m (EUR 29m) changes in value on investments. Earnings
per share amounted to EUR 0.19 (EUR 0.81) during the quarter
* The application period for East Capital Explorer's offer to redeem shares
ended on 14 January. 1,600,286 shares were tendered for redemption during
the redemption program, corresponding to an acceptance level of
approximately 97%. Consequently, a total of SEK 123.2m (corresponding to EUR
14.3m) was paid out on 30 January to the shareholders who participated in
the redemption program
* In the end of January, the 685,111 shares that were repurchased by the
Company during the fall of 2012 through the share buyback program and the
1,600,286 shares that were tendered for redemption during the redemption
program were cancelled in accordance with the decision at the EGM
* During the quarter, two additional investments of EUR 10m and EUR 15m
respectively were made into East Capital Russia Domestic Growth Fund
* Due to changed IFRS control requirements, East Capital Explorer is no longer
required to consolidate its fund investments in those cases in which the
Company was previously regarded as having controlling influence. This
implies that starting from 2013, all Fund holdings will instead be reported
at fair value in the financial statement
* As announced on 13 February, Mia Jurke, CEO of East Capital Explorer, will
go on maternity leave for a year starting 13 May. The Board of Directors has
appointed Catharina Hagberg as acting CEO during Mia Jurke's absence
* Cash, cash equivalents and other short term investments on 31 March 2013
amounted to EUR 7m (EUR 37m)
* The closing price of the East Capital Explorer share as of 31 March 2013 was
SEK 52.00 (corresponding to EUR 6.21)
--------------------------------------------------------------------------------
[1]Comparable figures for the corresponding period 2012 are stated in
parentheses
130508 - Q1 Report 2013:
http://hugin.info/143006/R/1700182/561114.pdf
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Source: East Capital Explorer AB via Thomson Reuters ONE
[HUG#1700182]
Unternehmensinformation / Kurzprofil:
Datum: 08.05.2013 - 07:02 Uhr
Sprache: Deutsch
News-ID 257370
Anzahl Zeichen: 3273
contact information:
Town:
Stockholm
Kategorie:
Business News
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"East Capital Explorer AB - Interim Report 1 January - 31 March 2013"
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